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    market news

    Cameco Corp Shares Enters Oversold Territory

    Investing News Network
    Nov. 14, 2012 01:06PM PST
    Energy Investing

    Forbes reported shares of Cameco Corp. (TSX:CCO,NYSE: CCJ) trading as low as $16.85 a share entered into oversold territory.

    Forbes reported shares of Cameco Corp. (TSX:CCO,NYSE: CCJ) trading as low as $16.85 a share entered into oversold territory.

    As quoted in the market news:

    We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

    In the case of Cameco Corp., the RSI reading has hit 30.0 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 39.8, the RSI o fSpot Gold is at 47.7, and the RSI of Spot Silver is presently 48.9.

    Click here to read the full Forbes report.

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